Scientific Games reduces losses in Q2-2018

US gambling supply company Scientific Games has posted its Q2-2018 report, announcing strong revenues and a reduction in debt.

Highlights include:

* Revenue up 10 percent at $844.7 million, with a $50.6 million contribution from NYX subsidiary;

* Net loss for the group narrowed to $5.8 million, compared to $39.1 million in Q2-2017, thanks to more efficient business processes;

* Consolidated Attributable EBITDA was up 8 percent at $340.4 million, primarily driven by higher revenue and more efficient business processes throughout the organization. The margin was 40.3 percent;

* Net cash provided by operating activities decreased to $102.5 million from $168.5 million last year due to the timing of interest payments resulting from the February 2018 refinancing.

Barry Cottle, CEO and president of Scientific Games, said, “Our core businesses are strong and ready to capitalize on the significant opportunities in the marketplace to drive growth by delivering great games and robust platforms and systems that enable them. We remain focused on delivering results, maintaining our financial discipline and strategically investing in our future to maximize shareholder return.”

CFO Michael Quartieri, added: “This quarter marks our eleventh consecutive quarter of year over year growth in revenue and AEBITDA. We have clear momentum across all of our global businesses. The improvement in our operating results, along with lower interest costs, provides us with a clear path of increasing cash flows, deleveraging, and strengthening our balance sheet.”

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